Blog Archives

Updated Property Transfer Tax return – with significant changes – now in effect

The BC Ministry of Finance has issued an updated Property Transfer Tax (PTT) Return 530 (version 29), in effect as of November 27, 2017. You can download it from the Land Title and Survey Authority of BC’s Electronic Filing System

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Foreign Buyers Tax update

When the 15 per cent foreign buyer property transfer tax on homes in Metro Vancouver came into effect in August 2016, there was widespread conjecture on whether it would discourage foreign buyers. To find out, we asked the BC Ministry

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2016 Changes to the PTT

In 2016, BC Premier Christy Clark vowed to make homes more affordable. At the same time, she introduced a series of changes to the Property Transfer Tax (PTT), including: a 3% PTT on the value of property exceeding $2 million; and

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Former REBGV President Darcy McLeod talks about housing affordability

Former Real Estate Board president, Darcy McLeod, in a CBC Radio interview before the event. Listen here. (Darcy’s part starts at 1:41.10) )

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Foreign nationals working through the BC Provincial Nominee Program now exempt from the addition 15 per cent PTT

Foreign nationals with Canadian work permits coming to BC through the BC Provincial Nominee Program can now be exempt from the 15 per cent additional Property Transfer Tax (PTT) (known as the foreign buyer tax) when they buy a home. The exemption began March 17,

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Why are home sales are important to our neighbourhoods?

Home sales help drive our economy and create much-needed jobs in our neighbourhoods. In 2016, in the Greater Vancouver area, 39,943 homes changed hands generating $2.5 billion in economic spin-off activity and 17,600 jobs.

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What does the PTT cost in your neighbourhood?

Housing Type MLS® HPI Benchmark Price, 2015 PTT Total Cost Annual Income Required Average Family Total Income1 Greater Vancouver Detached $1,248,600 $22,972 $1,271,572 $215,852 $109,695 Attached $543,700 $8,874 $552,574 $93,800 $109,695 Apartment $436,200 $6,724 $442,924 $75,187 $109,695 Lower Mainland Detached

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We’re asking candidates…

We’re asking candidates if they would support increasing the one per cent PTT threshold to $525,000 from $200,000.  This would mean on a modest $600,000 townhome in an outlying suburb, the PTT would be $6,750 instead of $10,000, saving home

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BC to unveil new measures to improve collection of real estate data

BC to unveil new measures to improve collection of real estate data Globe & Mail, February 16, 2016

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How would Property Transfer Tax changes affect BC homebuyers?

How would Property Transfer Tax changes affect BC homebuyers? Vancouver Sun, February 15, 2016

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